I have a shortsale listing with Nationstar that use to be with Bank of America.  I had the buyer for the shortsale as well as the listing, After I presented all of the Shortsale information through equator, (the complete shortsale package), Nationstar approved verbally, but never gave me an approval letter.  After contacting them every week, Nationstar finally told me that they wanted me to put the house on Auction.com.  I did place the house on Auction.com, and  it received a buyer.  Nationstar notified me that they received a buyer and wanted to proceed with their buyer.  I notified my buyer because we did not know the process, which was that my buyer had to also register on Auction.com and place a bid.  After all of that waiting, Nationstar's auction buyer walked.   Nationstar notified me through equator and stated that we could proceed with my buyer since their auction buyer walked.    Again, my buyer was ready and we presented all of the requested information for Nationstar over again.  The house was listed at $95000.00 and my buyer was paying the full offer.  Nationstar took a very long time with this process again and would never give me an approval letter.  When I called them, they stated that they had relocated and their employees did not transfer with them, and they apologized for the delay.  They stated that they had to give my files to someone else .  Well after all of the waiting, I finally got a response from Nationstar stating that the file expired and they are asking for $160,000 for the house instead of the $95000.  They wanted to know if my buyer would pay the $160000.  Well the buyer said no and walked.  The house is not worth 160000, and the repairs in it alone will take approximately 30,000 and more.  In the meantime, my seller had to go to court because they wanted to foreclosed on the property.  They put off the foreclosure for sixty (60) days.

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Sounds like a tedious road for this transaction so far. Do you know who the investor on this loan is? It sounds like you need to open up a value dispute with Nationstar if they are not placing this back through auction.com...

Let me know if you have any questions or need anything at all.

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310-564-6389

www.ishortsalenow.com

Thank you, I will.  I think the investor is Lasalle Bank. At least that is who is addressed in the foreclosure process.

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